Halloween is a fun holiday that we inherited from the Americans. During this time the children collect and eat lots of caramel. However, it's also the day that the world's number 1 cryptocurrency turns years, Bitcoin. Do you want to answer the question: "Bitcoin how to make money?", Then this guide is for you. Until 2017 nobody talked about it.
After the large bubble of Bitcoin broke out in 2017, almost everyone in the markets knew about digital currency, regardless of whether they bought one or not. The recent recovery of Bitcoin towards $ 10.000 seems to establish a new price for the cryptocurrency.
Bitcoin fever is picking up momentum, with some analysts forecasting a move to $ 50.000! If you want to position yourself for the next bitcoin upward race, then you need to understand the opportunities that exist in this market.
By positioning yourself before the growth of the next Bitcoin bubble, you can get speculative dollar earnings, which could free you financially for life. This guide will provide you with some strategies you can implement to earn Bitcoins quickly and create a future for you in the digital currency economy.
Earning Bitcoin: how to do it
If you are looking for a good summary overview to understand how earn bitcoins, you are definitely in the right place!
However, before we approach this issue, we would like to suggest some small initial precautions that will allow you to proceed more quickly in the following paragraphs.
So let's start by summarizing some basic information to earn bitcoins.
Before we find out some more information about Bitcoin, why don't we see how you can make money with this digital resource? In this regard, we have written below the most important strategies to consider to supplement your income and beyond! Choose the strategy that best suits your needs, and follow it.
Americans Say: Buy and "HODL"
No, we were not wrong. HODL is a new term known in the world of cryptocurrencies, born precisely as a synonym for HOLD (literally: to keep). When people think about buying Bitcoin, they also imagine the huge gain they will get in its resale. This simple strategy is known as: purchase and possession. It is a popular method used by gold investors and operates within an investment portfolio as a hedge against market volatility. The bitcoiners who hold the long-term currency call themselves "HODL'ers", a spelling mistake (wanted) of the term "Hold".
Trading in Bitcoin markets
If you really want to make money with Bitcoin, then day trading in the cryptocurrency markets is by far the best option. The cryptocurrency market operates almost the same way as the Forex and equity markets. Buyers and sellers meet on a platform, also known as an exchange or app to earn Bitcoin, and negotiate cryptocurrency with each other in the hope of profiting from arbitrage. Cryptocurrency exchanges such as Binance, Bittrex and Bitfinex offer the same services to cryptocurrency traders, such as NASDAQ, NYSE and FTSE to stock and currency day traders. The difference between cryptocurrency and Forex is that Forex is a regulated market. Government agencies, such as the SEC, regulate traders and companies. In the cryptocurrency market, it is the wild west.
Something to know before starting
Before starting we would like to remind you that i Bitcoin are monete digital (cryptocurrency) that you can use not only as a medium of exchange for the sale of goods and services, but also as a more or less speculative investment tool.
The concept of money changed when, on October 31, 2008, "Satoshi Nakamoto" published a white paper on a peer-to-peer digital cash register system. Bitcoin was nothing more than an idea for years until it attracted traders' attention.
In the early stages of Bitcoin development until 2010, the world had no idea of the imminent value of Bitcoin. The only people who knew about the cryptocurrency were technicians and players. It was at this early stage of the formative years of cryptocurrencies, where one of the biggest financial errors of all time occurred.
Leaving aside for a moment their basic characteristics, and the fact that you can invest speculatively in these assets, to be able to earn bitcoins you will first need a digital wallet, a "wallet”In which coins bought or obtained in another way will be saved.
We will talk about wallets in separate details.
For the moment it is enough for you to know that their opening is simple and fast, and that among the most well-known and appreciated is certainly Bitcoin Core (but there are many others that we will talk about later), which you can freely download from bitcoin.org.
On May 22, 2010, Laszlo Hanyecz, a Bitcoin enthusiast, made the first Bitcoin transaction in the world. Laszlo ordered two pizzas from Papa Giovanni and paid for the delivery with 10.000 Bitcoins. At an average of the current Bitcoin prices that is around 7.000, this would mean about 35 million for each pizza!
Is Bitcoin mining still possible?
When Bitcoin was first launched, it was possible to "extract" the blockchain for Bitcoin using a computer. However, as people learned about the rise in prices with cryptocurrency, more and more people started buying better computers for mining.
In the end, it wasn't long before the tech companies started designing and building "mining facilities". However, there is a way to make money by mining Bitcoin without moving to China to set up a mining farm. By purchasing one or two professional platforms and installing them in the garage, you can extract some less popular coins and exchange them with BTC on an exchange.
The returns will not be great but they are a way to put your foot in the door and if you take a good coin and keep it, it could increase in value later on.
Bitcoin mining pool
I Bitcoin mining pool they are a way for Bitcoin miners to pool their resources and share their hashing power by dividing the reward equally based on the amount of actions that helped resolve a block.
Each member of the pool is then assigned a quota, which represents valid proof of the resolution of the block. This activity began in particular when the extraction of Bitcoin for a single operator became practically impossible, giving birth to the mining of bitcoins in the pools.
Miners have found a solution to this problem by pooling their resources. This made it possible to generate the blocks faster and therefore everyone, in a small part, could receive a reward constantly, rather than a big reward for everyone, every (who knows how many) year.
What is an ASIC bitcoin miner?
An application-specific integrated circuit (ASIC) is a device designed for the sole purpose of extracting - not coal, but rather digital currency. Generally, each ASIC miner is built to mine a specific digital currency. So, a Bitcoin ASIC miner can only mine Bitcoin. Think of Bitcoin ASICs as specialized Bitcoin mining computers or "bitcoin generators".
You could also think of ASIC devices as a microprocessor on your computer; only instead of being integrated circuits, these are circuits designed specifically to keep the blockchain active, which is nothing more than a database available to everyone, where digital info is stored. Making devices like ASICs to extract cryptocurrencies is a process that takes time and money; however, since they are designed for a single purpose, extraction is performed more quickly, even with low power PCs.
Bitcoin affiliate systems
Some cryptocurrency companies will pay you (in Bitcoin or current currency) if you send their customers that they buy. This method of marketing, called "affiliate marketing", has existed for a long time and allows sites to have an additional revenue stream.
Bitcoin affiliate programs (sometimes referred to as partner programs) are a great way to generate passive income if you run a website (or anything else on the web that attracts visitors).
Services with an active affiliate program will pay you if you send their paying customers. It works like this:
- You sign up for the service affiliate program
- The service offers you a unique referral URL pointing to their website
- Post the URL on your website, Facebook, forum, tweet, whatever
- When someone clicks on the referral link and then makes a purchase on the service site, you earn a commission for the purchase, in Bitcoin
Earn Bitcoins for free
Buying Bitcoin means investing in the long term, but not everyone is able to buy all the digital coins they want and for this reason, there are extra methods to earn Bitcoin online for free. Not many people are aware that free Bitcoin is there waiting for them. In fact, there are five fantastic ways to earn Bitcoin for free online. One of the best ways to earn Bitcoin for free online is with Coinpot and Moon bitcoin.
Here they are below:
- Buy online and earn Bitcoin
You can earn Bitcoin online simply by purchasing "things". You can also use your daily shopping experiences to increase your Bitcoin account. Such as? Using a Bitcoin cash-back service.
- Open a Crypto Interest account to earn Bitcoin for free
Many investors buy the main digital currency as a long-term investment, to find out later that to increase their participation, they cannot do anything else. By storing your digital currencies on BIA interest accounts (BlockFi), be it Bitcoin, Gemini or Ether, your earnings will be practically automatic and free.
- Mining begins to earn Bitcoin
Cryptocurrency mining is another way to earn Bitcoin for free. But what is crypto mining? Miners are the back bone of the blockchain. Using specific hardware, they can complete difficult calculations to facilitate and confirm value blockchain trading.
- Take part in surveys to earn free Bitcoins
If answering questions doesn't take you too long, you can help companies conduct market research by taking part in real surveys. This is an effective way to earn Bitcoin for free. There are several companies that offer opportunities to participate in these surveys, just do a short online search!
- Become an affiliate and earn Bitcoin for free
Affiliate marketing offers another method for how to make money online with Bitcoins. If you have online followers, you can direct them to sites to make online purchases. In fact, these companies will reward you for generating a profit by recognizing you digital currency.